Redeia Corp U/Adr (RDEIY) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.031 Good 00:00:02.235 -- 00:00:07.664 morning, ladies and gentlemen. We're starting our earnings call for 2025 00:00:07.664 -- 00:00:11.270 and the new strategy plan for the period 2026-2029. 00:00:11.270 -- 00:00:12.852 We 00:00:12.852 -- 00:00:17.801 bid welcome to all attendants via telephone and our webpage. 00:00:17.801 -- 00:00:23.054 With us are Beatriz Corredor. chair of the board of directors, Roberto Garcia 00:00:23.054 -- 00:00:28.168 Merino, chief executive officer, and Emilio Cerezo, chief financial officer. 00:00:28.168 -- 00:00:31.839 I now give the floor to our chairwoman, Beatriz Corredor. 00:00:31.839 -- 00:00:35.992 Thank you very much, Sol, and good morning, everyone. 00:00:35.992 -- 00:00:41.021 First, I will start by highlighting the most notable events of 00:00:41.021 -- 00:00:46.451 2025, and then our CEO, Roberto, will go deeper into 00:00:46.451 -- 00:00:51.099 the year's figures and discuss the close of the financial year. 00:00:51.099 -- 00:00:56.368 I will later refer to the environment in which the Board of REDEA brings 00:00:56.368 -- 00:01:01.396 this strategy plan And once more, Roberto will go into 00:01:01.396 -- 00:01:06.402 deeper detail on it. And as usual, we will conclude with a question and 00:01:06.402 -- 00:01:12.230 answer period to address any of your queries or concerns. 00:01:12.230 -- 00:01:15.614 So, as I said, let's get started with 00:01:15.614 -- 00:01:20.963 the 2025 highlights. From an operational viewpoint... 00:01:20.963 -- 00:01:26.589 we can say we've made great progress with a record of investments 00:01:26.589 -- 00:01:31.895 in TSO, exceeding 1.5 billion euros, or 40% more than 00:01:31.895 -- 00:01:37.341 in 2024. A record figure in our 41-year history, 00:01:37.341 -- 00:01...